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How Does the Projected Growth of the Radiotherapy Devices Market Compare Over the Forecast Period?

Recent years have seen notable enlargement in the size of the radiotherapy devices market. Its expansion is predicted to continue, rising from $6.13 billion in 2024 to $6.71 billion in 2025, with a compound annual growth rate (CAGR) of 9.5%. The historical growth trajectory is a result of escalating cancer cases, emphasis on patient-centric care, an aging populace, heightened consciousness about radiotherapy devices, and an upsurge in teletherapy and remote monitoring.

The market size for radiotherapy devices is predicted to experience robust expansion in the forthcoming years. By 2029, it’s anticipated to reach a value of $9.73 billion, with a compound annual growth rate (CAGR) of 9.7%. The anticipated development during this forecast period can be ascribed to factors such as the broadening of proton therapy, combining immunotherapy, telementoring and teletherapy, increasing demand for precise and targeted radiation therapies and the advent of less invasive radiotherapy methodologies. Noteworthy trends expected during this period encompass advancements in proton therapy, hypofractionated radiotherapy, adaptive radiotherapy, enhancements in patient experience, and the incorporation of artificial intelligence (AI).

How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the Radiotherapy Devices Market?

The rise in cancer incidence is anticipated to boost the expansion of the radiotherapy devices market. The term cancer incidence refers to the aggregate number or proportion of individuals in a population who have received a cancer diagnosis at a specific moment in time or over a certain timeframe. Radiotherapy is frequently the first line of treatment or a supplementary treatment used to reduce tumors, control cancer progression, or destroy cancer cells before or after an operation. For instance, the Australian Institute of Health and Welfare, a government agency in Australia, reported in July 2024 that the number of cancer diagnoses in Australia had risen from 160,570 in 2022 to 164,694 in 2023, demonstrating a significant increase over the course of the year. This escalating trend underscores the increasing incidence of cancer in the country. Consequently, this surge in cancer incidence is propelling the growth of the radiotherapy devices market.

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Who Are the Key Players Steering the Development of the Radiotherapy Devices Market?

Major companies operating in the radiotherapy devices market include Varian Medical Systems Inc., Elekta AB, Accuray Incorporated, Becton Dickinson and Company, IBA Ion Beam Applications SA, Koninklijke Philips N.V., Siemens Aktiengesellschaft, Eckert & Ziegler Bebig, IsoRay Inc., General Electric Healthcare, Vision RT Ltd., RaySearch Laboratories AB, Theragenics Corporation, Canon Medical Systems Corporation, AngioDynamics Inc., Mitsubishi Electric Corporation, Shinva Medical Instrument Company Limited, Neusoft Medical Systems Co. Ltd., Mevion Medical Systems Inc., Optivus Proton Therapy Inc., Panacea Medical Technologies Pvt. Ltd., P-Cure Ltd., Provision Healthcare LLC, Sumitomo Heavy Industries Ltd., ViewRay Inc., Miranda Medical, Nordion Inc., NTP Radioisotopes SOC Ltd., Curium, Hitachi Ltd., Brainlab AG, Best Theratronics Ltd., ProTom International Inc., RefleXion Medical Inc., Insightec Ltd., HistoSonics Inc., Novocure Ltd., TomoTherapy Incorporated, Agile MV LLC, CIVCO Radiotherapy, Neutron Therapeutics, Diapulse Corporation of America, Johari Digital Healthcare Ltd., Alpha Tau Medical Ltd.

What Are the Most Prominent Trends Driving Change in the Radiotherapy Devices Market?

In the radiotherapy devices market, a prevailing trend is the substantial influence of Artificial Intelligence (AI). This innovative incorporation is becoming increasingly popular due to its potential to enhance the precision and efficiency of diagnosing ailments, assist with medical decisions, and yield superior results. A case in point is HCG cancer hospital rolling out AI-derived radiation therapy technology in October 2022 to enhance the effectiveness of radiotherapy. The conventional treatment planning method can require days to devise an optimal radiation delivery plan; but with AI, this process can be significantly expedited. Additional expectations include AI supporting advancements such as deep learning applications in treatment planning, automation in image-guided adaptive radiation therapy, genomic/radio-biologic data mining, and clinical decision support. This would collectively contribute to market growth.

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Which Growth-Oriented Segments of the Radiotherapy Devices Market Are Leading the Industry’s Development?

The radiotherapy devices market covered in this report is segmented –

1) By Product Type: External Beam Radiation Therapy Devices, Linear Accelerator Devices, Proton Therapy Devices

2) By Application: Skin Cancer, Breast Cancer, Prostate Cancer, Cervical Cancer, Lung Cancer, Other Applications

3) By End Users: Hospitals, Ambulatory Surgical Centers, Oncological Treatment Centers

Subsegments:

1) By External Beam Radiation Therapy Devices: Intensity-Modulated Radiation Therapy (IMRT) Devices, Image-Guided Radiation Therapy (IGRT) Devices, Stereotactic Body Radiation Therapy (SBRT) Devices, Stereotactic Radiosurgery (SRS) Devices, 3D Conformal Radiation Therapy (3D CRT) Devices

2) By Linear Accelerator Devices: Conventional Linear Accelerators, Stereotactic Linear Accelerators

3) By Proton Therapy Devices: Cyclotron-Based Devices, Synchrotron-Based Devices, Synchrocyclotron-Based Devices

Which Geographical Regions Are Shaping the Radiotherapy Devices Market Growth?

North America was the largest region in the radiotherapy devices market in 2023. Asia-Pacific was the second-largest region in the global radiotherapy devices market report. The regions covered in the radiotherapy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

What Are the Defining Aspects of the Radiotherapy Devices Market Landscape?

Radiotherapy devices are used in cancer treatment by using high doses of radiation to kill cancer cells and shrink tumors. They are used to destroy cancerous cells and shrink tumors while minimizing damage to surrounding healthy tissue. By employing various techniques, such as external beam radiation and brachytherapy, these devices play a crucial role in cancer treatment and management.

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